LONDON (–The Fortune Group and Simon Nocera will open an emerging markets hedge fund called the Lumen Global Value Fund as part of Fortune’s emerging managers program.

Scheduled for a Feb. 1 launch, the fund will be managed by Mr. Nocera using long and short positions in emerging market debt, equity and currencies. Mr. Nocera previously was a managing director and co-chief investment officer of emerging markets at Dresdner RCM Global Investors, according to a Fortune statement.

Mr. Nocera will rank emerging markets on structural inefficiencies and cyclical conditions, using that to spot what he believes are price discrepancies in emerging market-related securities, the statement said. Two other professionals will be working with Mr. Nocera on management of the fund.

The minimum to invest will be US$1 million. The fund will charge a management fee of 1.5% and a performance fee of 20%, said spokeswoman Charlotte Morita. The probable prime broker is Credit Suisse First Boston, she said. The legal counsel is Ropes and Gray, New York